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ATCO (TSE:ACO.X) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

ATCO logo with Utilities background

Key Points

  • ATCO Ltd. shares surpassed their two hundred day moving average of C$49.76, trading as high as C$50.86, indicating positive market momentum.
  • Royal Bank Of Canada has raised their price target for ATCO from C$51.00 to C$53.00, while TD Securities has lowered theirs from C$56.00 to C$55.00.
  • Insider transactions include a sale of 1,500 shares by Senior Officer Rebecca M. Kalmacoff and a purchase of 7,407 shares by Sentgraf Enterprises Ltd., reflecting diverse insider sentiment.
  • Interested in ATCO? Here are five stocks we like better.

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$49.76 and traded as high as C$50.86. ATCO shares last traded at C$50.81, with a volume of 277,336 shares traded.

Analyst Ratings Changes

ACO.X has been the subject of a number of recent analyst reports. TD Securities reduced their target price on ATCO from C$56.00 to C$55.00 and set a "hold" rating for the company in a report on Friday, August 1st. Royal Bank Of Canada increased their price target on shares of ATCO from C$51.00 to C$53.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$53.08.

Read Our Latest Report on ACO.X

ATCO Price Performance

The firm has a market capitalization of C$5.07 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 3.80 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The business has a 50-day moving average price of C$50.84 and a two-hundred day moving average price of C$49.88.

Insider Buying and Selling

In other ATCO news, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total value of C$77,100.00. Also, insider Sentgraf Enterprises Ltd. purchased 7,407 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of C$50.55 per share, for a total transaction of C$374,423.85. 0.61% of the stock is owned by company insiders.

About ATCO

(Get Free Report)

Atco Ltd is a Canadian holding company that offers gas, electric, and infrastructure solutions. The largest subsidiary of the company is Canadian utilities, which operates natural gas, electricity, and logistical services. Atco's primary segments include Structures and Logistics; Utilities; Energy Infrastructure; Neltume Ports and Corporate and Other.

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